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Derelict devices put spotlight on AusPayNet

By George Lekakis, Senior Banking and Financial Services Correspondent

For many years the Reserve Bank has set an expectation on financial institutions to improve the reliability of payment services. So, how is it that banks and other providers are able to sell or rent payment devices that don’t work or appear to break down easily?

RBA limp on blended rates and LCR, despite market failure on SME card fees

Commentary by Warwick Ponder

Key strategies to reduce the cost of card fees charged to small businesses are not being used by the Reserve Bank of Australia, despite decades of market failure under the “reluctant regulator” and its proposed ban on surcharging.

Wage-advance ‘fintechs’ slip through the regulatory net

By Michael Sainsbury, Senior Business Correspondent

With BNPL now regulated, a slew of wage-advance ‘fintechs’ remain effectively unregulated and highly secretive, thriving on the cost-of-living crisis.

Banks and card schemes rebuked over threats on fraud, fees and rewards

By Warwick Ponder, Editor

Lobbyists at the Australian Banking Association (ABA) were left red faced this week after being roundly rebuked over their relentless public threats to throttle spending on fraud protection, discount rewards points and ramp up card fees.

Shareholders tip another $3 million into Azupay

By George Lekakis, Senior Banking and Financial Services Correspondent

Official filings show that real time payments specialist Azupay has executed its first capital raising since July 2023.

ANZ Worldline’s Discover deal brings 378 million extra cards

By Staff Reporter

In his first major announcement since being appointed interim CEO at ANZ Worldline, John Collins, has announced a deal that enables his merchant customers to accept millions of extra international cards.

Regulators close to cash fix, and flag consultation on Amex, BNPL and Apple Pay

By Warwick Ponder, Editor

Financial regulators are close to recommending a way forward for cash distribution in Australia, reiterating that hard currency remains an essential part of the economy and cash in circulation is at record highs.

John Cox takes the reins at Linkly

By Staff Reporter

Former Coles tech boss John Cox has taken the reins at Sydney-based payments outfit, Linkly.

Payments complexity plagues SME productivity, report

By Warwick Ponder, Editor

A new report details the hidden cost of payment complexity for Australian businesses in a digital world, with cash flow ranked the number one menace.

Bank Australia launches translucent recycled plastic cards

By Staff Reporter

Bank Australia has launched a range of translucent credit and debit cards made from recycled plastic.

Ticketing giants’ opaque pricing

By Michael Sainsbury, Senior Business Correspondent

Long the masters of recategorising and changing fee structures to stay a step ahead of regulators, the Ticketmaster/Ticketek duopoly will be ready for the challenge thrown by regulators, their critics believe.

Zepto primes Spaceship for PayTo

By Staff Reporter

Investment platform Spaceship has selected Zepto to power PayTo payments for its customers.

'Bestie Tax' bites Australian generosity, PayPal data shows

By Rachel St Clair, Reporter

Paypal has revealed the true impact of the ‘Bestie Tax’ – the silent cost of sparing friends’ feelings at the expense of your own wallet.

Ezypay acquired by US tech company, Xplor

By Rachel St Clair, Reporter

Sydney payments fintech Ezypay has been acquired by US tech company, Xplor Technologies, for an undisclosed sum.

Hollywood funny man Will Ferrell pushes PayPal’s BNPL to Aussies

By Staff Reporter

In an effort to ramp up usage of its Buy Now Pay Later (BNPL) offering, PayPal Australia is launching its biggest ever Australian consumer ad blitz, fronted by US comic and producer, Will Ferrell.

Clover’s launches Apple’s Tap to Pay

By Rachel St Clair, Reporter

Clover has launched a new update, enabling Apple's Tap to Pay on mobile phones through its app in Australia.

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